IRI announced the launch of the IRI Revenue Growth Management (RGM) Enterprise Suite, which enables CPG manufacturers to optimize pricing and promotion and accelerate sales and profit. It integrates capabilities across data, analytics, technology, people and processes to create invaluable strategic and tactical insights and recommendations. Manufacturers can set, attain and maintain pricing and trade promotion programs tailored to specific retailers, as well as achieve measurable revenue and profit growth.
“The RGM Enterprise Suite has the most in-depth reporting and comprehensive analysis, and is the only package offering Trade Planning, giving CPG companies a powerful new solution,” said Dr. Krishnakumar (KK) S. Davey, president of Strategic Analytics for IRI. “Features such as customized modeling, forecasting and prescriptive recommendations allow both midsize and large CPG companies to achieve new levels of revenue growth. Only IRI’s solution addresses end-to-end pricing and trade promotion capabilities and captures store-level impacts with precision, scale and depth.”
IRI’s Strategic Analytics team supports users with expertise in strategy, design and activation based upon years of experience within the industry, including on-site support. “IRI has been a great partner to McCormick over the past two years as part of our category and revenue management initiatives,” said Glen Schutzman, vice president of Category Management for McCormick and Company, Inc. “This partnership has helped McCormick generate significant value for our retailer customers and ourselves, setting the foundation for growth in 2017 and beyond.”
All solutions within the RGM Enterprise Suite leverage the speed and power of the IRI Liquid Data® technology platform and are viewable through IRI’s Unify™ visualization for greater insights. The suite consists of three solutions, available in bundles or individually:
- IRI Price and Trade Advantage (PTA): PTA provides strategic planning and evaluation of alternative price and promotion scenarios. Manufacturers can engage with and activate their retail partners at the headquarters and in the field. The Discover module offers insights into store-level pricing to understand pricing compliance and dynamics.
- IRI Business Value Drivers (BVD): BVD helps companies understand the key factors that drive sales and impact change by explaining the “why” behind the “what.” Using a guided approach to insights, BVD users can quickly move within results across time, products, markets and drivers. Gaining impactful insights faster allows users to develop strategies to leverage successful scenarios and course correct lost opportunities.
- IRI Trade Planner: For trade marketers seeking superior ROI on trade spend, IRI Trade Planner is a robust trade analytics and planning solution. IRI Trade Planner consists of two modules—the Event Planning Calendar and the Post-Event Analyzer—both of which provide a seamless flow from post-event ROI analysis to flexible trade plan development and simulation.
More than 30 CPG companies are currently utilizing one or more components of the RGM Enterprise Suite. The RGM Enterprise Suite is available now and will be continuously updated and enhanced through annual and multiyear subscriptions. Future updates to the suite will include pantry loading, cross-retailer dynamics, trade saturation and optimization.